NIO (NYSE:NIO) Trading Down 2.5% – What’s Next?

Nio Inc – (NYSE:NIO) was down 2.5% on Tuesday . The company traded as low as $4.55 and last traded at $4.59. Approximately 16,923,074 shares traded hands during trading, a decline of 59% from the average daily volume of 41,548,195 shares. The stock had previously closed at $4.71.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Daiwa America raised NIO to a “strong-buy” rating in a research note on Monday, September 30th. The Goldman Sachs Group downgraded NIO from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $4.80 to $3.90 in a research report on Monday, November 25th. Macquarie cut shares of NIO from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $6.60 to $4.80 in a research report on Wednesday, November 20th. HSBC lowered shares of NIO from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Hsbc Global Res lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, NIO has a consensus rating of “Hold” and a consensus target price of $5.71.

NIO Trading Down 4.2 %

The company has a quick ratio of 0.93, a current ratio of 1.04 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $7.43 billion, a PE ratio of -2.86 and a beta of 1.70. The stock’s fifty day moving average price is $4.67 and its two-hundred day moving average price is $4.81.

Institutional Investors Weigh In On NIO

A number of large investors have recently made changes to their positions in NIO. Bank of New York Mellon Corp boosted its holdings in shares of NIO by 32.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,416,709 shares of the company’s stock valued at $5,894,000 after buying an additional 343,910 shares in the last quarter. Principal Financial Group Inc. bought a new stake in NIO during the second quarter worth about $130,000. Commonwealth Equity Services LLC lifted its holdings in shares of NIO by 1.7% during the second quarter. Commonwealth Equity Services LLC now owns 208,152 shares of the company’s stock valued at $866,000 after purchasing an additional 3,539 shares during the last quarter. Caprock Group LLC bought a new stake in shares of NIO in the 2nd quarter worth approximately $63,000. Finally, PFG Investments LLC grew its stake in shares of NIO by 12.4% in the 2nd quarter. PFG Investments LLC now owns 57,852 shares of the company’s stock worth $241,000 after buying an additional 6,404 shares during the last quarter. 48.55% of the stock is currently owned by institutional investors.

About NIO

NIO Inc designs, manufactures, and sells electric vehicles in the People's Republic of China. The company is also involved in the manufacture of e-powertrain, battery packs, and components; and racing management, technology development, and sales and after-sales management activities. In addition, it offers power solutions for battery charging needs; and other value-added services.